I have added a Full Position of China MediaExpress (Amex: CCME) to the China Portfolio this weekend. The stock broke out from a two week base this Friday and is headed for much higher levels from here. I am setting a price target of $26.00 for the stock, or 12x targeted net income of $2.17 per share for 2010.

China MediaExpress operates the largest television advertising network on inter-city express buses in China. The company generates revenue by selling advertisements on its network of television displays installed on over 20,000 express buses originating in fourteen of China's most prosperous regions, including the five municipalities of Beijing, Shanghai, Guangzhou, Tianjin and Chongqing and nine economically prosperous provinces, namely Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong and Shanxi which generate more than half of China's GDP.